Low interest rates have seen the number of people falling behind their mortgage drop to a level not seen in over 20 years - but rising renting costs have caused a sharp spike in evictions, according to data out today.

Evictions of households from private landlords have almost doubled during the past five years to more than 22,000, according to figures from the Ministry of Justice.

In the year to the end of June, some 22,592 households were evicted by bailiffs – a 46 per cent increase compared to five years earlier.

Out: Evictions of households from private landlords have almost doubled over the past five years

Housing charity Shelter said the figures demonstrate the ‘chronic lack of affordable homes’ for renters.

Based on average household sizes, the charity said the latest number equates to 56,480 people being evicted by bailiffs over the last year.

The average price for renting in Britain excluding London was £779 per month in July - 2.3 per cent higher than the same period last year and about 15 per per cent higher compared to four years ago, according to recent figures by HomeLet.

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However, homeowners have been helped by years of low interest rates, a separate set of figures seems to suggest.

In the three months to the end of June, there were some 92,500 mortgages in arrears of at least 2.5 per cent of the balance. This is a 13 per cent decrease compared to the same quarter last year and the lowest level since the Council of Mortgage Lenders’ records began in 1994.

Arrears: Some 13 per cent fewer households fell behind their mortgage last quarter

The news comes as the Bank of England last week cut interest rates to a new record low of 0.25 per cent, which will see many households paying less for their mortgage.

And home loan rates could fall even further as the Bank indicated that it could chop the base rate yet again before the year is out.

The number of mortgaged properties repossessed also fell to 1,900 in the three months to the end of June compared to 2,100 in the first quarter, the CML said.

There was a decline in both owner-occupier and buy-to-let repossessions and the CML said that if the trend continues, repossessions of homes for this year were on track to be the lowest since 1982.

Falling: There was a decline in both owner-occupier and buy-to-let repossessions

Despite the downward trend, there was an upswing in the number of loans in the worst arrears band - those owing more than 10 per cent of the balance.

The number in this category rose from 23,500 three months earlier to 23,700 - matching the number at the end of last year.

CML director general Paul Smee said: ‘Another welcome reduction in arrears and possessions shows that borrowers are continuing to prioritise their mortgage commitments and that lenders remain committed to helping them through a period of temporary difficulty, wherever possible.

‘As ever, the key to success in dealing with any payment problems is to address them as soon as possible. Any borrowers anticipating difficulty in paying their mortgage should therefore speak to their lender at the earliest opportunity.’

But Jonathan Harris, director of mortgage broker Anderson Harris, said that despite the decline, there was ‘no room for complacency’.

He said: ‘There are still many home owners being repossessed or finding themselves in arrears on their mortgage each year, which begs the question: what will happen when interest rates move the other way and start to rise? How will people cope?

‘We suspect that when it comes to their finances there are many people teetering on a knife edge and rate rises could easily push them over.

‘While it looks highly unlikely that interest rates will rise any time soon, borrowers should still plan ahead and consider how they would cope with higher mortgage rates.’

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Mortgage arrears drop to lowest in over 20 years but renters see evictions soar 46% in five years